Funding Alert

Innovist raises $3.5 million in its seed funding round led by Accel Partners

• ByStartupStory     |    June 16, 2022

Innovist (formerly Onesto Labs), located in Gurugram, has secured $3.5 million (about Rs 27 crore) in pre-Series A funding led by Accel Partners and 72 Ventures. Innovist (originally Onesto Labs) is the parent business of D2C hair brand Bare Anatomy, Chemist at Play, and SunScoop.

This round of fundraising was also attended by Sauce (Manu Chandra) and Arihant Patni (Patni Family Office), Jani Ventures Inc, Nihir Parikh, Rashmi Kwatra (Sixteen Street Capital), Kunal Shah (Cred), Alok Mittal, and Shripad Nadkarni (Maverix Platforms & Fingerlix). Innovist will utilise the extra cash to improve its research and development skills, as well as its marketing, hiring, and distribution methods.

Rohit Chawla, Innovist’s founder and CEO said that Innovist name was chosen since it is a scientific and innovation-driven platform. So far, the adventure has been fantastic. It is optimistic that with the additional money, the firm will be able to significantly strengthen its infrastructure and expand further.

Rohit Chawla, Sifat Khurana, and Vimal Bhola created Innovist in 2018 with the brands Bare Anatomy, Chemist at Play, and SunScoop, which sell cosmetics and personal care items. These things may be purchased on their website, through several sorts of e-commerce platforms, and in a variety of other places. In 2019, Sauce Venture Capital, a consumer-focused private investment firm, launched a $500,000 initial fundraising round for Onesto Labs.

Radhika Ananth, vice president of Accel Partners said that Innovist is a transparent brand that 

is totally based on science and safe, clean components. A vertical house of brands allows us to extract the most value from demand and supply by creating high-quality products while controlling cost and operational savings from a commercial viewpoint. The company is looking forward to Rohit and his team continuing their outstanding work and developing world-class BPC solutions for India and its neighbouring markets.

 

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